[Closed] Bankroll Management for Multiple Accounts

If you can always transfer money between the sites, then consider like you have 1 account, but if you cant always tranfer money between the sites then you should consider different BRM (like you have some money here, some there).

Plus: Never had more than 10% of hole br on one site if you have Moneybookers or Neteller.

Great topic created here imo.

Can't wait to see what all you guys think ♦

Gary

yea really interesting topic. nice one philhellmutt!

i think it depends if you're willing to bust your account somewhere and redeposit at the moment, my funds are a bit spread around too. if it's in my e-wallet, i sometimes consider it as part of my br because it literally only takes a few sec to deposit it. but if it's in Site A for example, it will take some time before i can transfer it to Site B.

my personal practice is keeping in mind my poker bankroll (total) and a table bankroll (what i have on the site+ewallet).
for the poker bankroll, you can follow whatever brm you have decided for yourself (eg 20 or 25 or 30 BI brm whatever), and for the table bankroll i feel comfortable playing with at least 5 buy ins or more because i dont really like to interrupt my tables to deposit. and if ive lost 5 BI, its a good time to stop and reflect on my play.

that's my two cents

smiles,
wendy

How is it possible to transfer money between different accounts?
TY

having an e-wallet helps me transfer money between sites.

1. withdraw from site A into e-wallet
2. wait for funds to arrive in account
3. deposit into site B using your e-wallet

Nice replies.

Looks like I should open an e-wallet account then...

I've been depositing via credit card, so the funds aren't quite as liquid as they could be. I've heard about Neteller and other accounts - are they all 100% safe?

Originally posted by philhellmutt
Nice replies.

Looks like I should open an e-wallet account then...

I've been depositing via credit card, so the funds aren't quite as liquid as they could be. I've heard about Neteller and other accounts - are they all 100% safe?

Both NETELLER and Moneybookers are regulated in recognised jurisdictions.

They are both regulated by the Financial Services Authority in the UK.

The FSA guarantees that 100% of all customer money for both services is held in separate trust accounts. That means that even if the worst were to happen, your money would basically be safe. Essentially, the trust accounts are a complex legal arrangement to say one thing simply: the money on your account is yours, not theirs, and you can access at anytime.

In that respect, they are very, very safe. It's just like having a bank that doesn't have a branch you can walk into in terms of getting access to your money.

What's more, you can sign up for either through PokerStrategy.com:

• NETELLER
• MoneyBookers

If you have any other questions, please don't hesitate to ask!

Best,

Marc

Originally posted by purplefizz
but if it's in Site A for example, it will take some time before i can transfer it to Site B.

this, considering that most cashouts to ewallet for takes 2 - 3 days for approval, i stopped spreading my roll on multiple sites. i always have 20buyins only for the limits im playing on the poker room and cashout everymonth to my ewallet / bank.

if i do decide to go multiple rooms again in the future, the total money in both rooms + my ewallet / bank will be my whole bankroll but will be putting 30buyins per limit per room and will be cashing out monthly also. ( 30 buyins to compensate for downswings / delays of transfering roll from site to site )

What's more, you can sign up for either through PokerStrategy.com:

• NETELLER
• MoneyBookers

Awesome, thanks Marc!

I have started using Moneybookers. They take quite a chunk out of you, fees and a bumped up currency exchange rate but it's worth it for peace of mind. First time I put some money onto Full Tilt someone hacked into the transfer and took £250 for themselves. Would rather not use my bank details online unless I have to.

I've got a couple of accounts running at the moment with different size bankrolls and try to use good BRM for each. One account only has $115 and I play 3c/6c NLHE cash games. Considering I started with $30 on that account, it's not good BRM but I can't get interested in playing lower limits. Once I have it up to $200 I will be moving up in limits.

Play what you are comfortable with (relative to bankroll) and at limits you will care about playing for, on each site. I have more than double the above on another site so I play at higher stakes there.

What chunk are you speaking of? I thought it was a fee of 1% up to 50cents for sending money and about 2 euros for withdrawing. Pretty cheap if I'm correct

Last time I used it I moved $315 from a site onto Moneybookers. They then changed it into GBP and when I moved that onto another $ site it became $305. $10 disappeared making the transaction (approx). Maybe "chunk" was the wrong word but it was a noticable amount. This won't stop me for using the site again - reasonable price to pay for a secure transaction.

Bankroll management theory usually assumes that busting out is a disaster, not an inconvenience. If busting out means you go play on another site for a week while you wait to transfer money, that's annoying but not a disaster. So, you don't need to have enough money on each site to make it prohibitively unlikely that you will lose your balance.

In fact, if you lost everything on every site, would you quit poker forever? Suppose your friends said, "We've seen poker on TV and it looks like fun. Bring $25 and some beer." Would you turn them down? If you lost your whole balance on a site, you wouldn't be happy, but you could probably find another $50. This is very different from a professional player with a $100k balance and a $2k/month rent. If the $100k goes, the professional player has to get a regular job to pay rent. He can't redeposit $50 and pay the rent from that. Your bankroll is the total amount you can afford to lose playing poker, not your balance, and most low stakes players have bankrolls significantly larger than their balances.

Anyway, how you should treat multiple balances depends on how inconvenient it is to transfer money between sites, how much better the opportunities might be on one site versus another, and how large the chance is that your funds at one site will be frozen or lost. Any accurate rules will have to depend on the specifics of the situation.

One of my students (a successful professional player) has a few thousand locked up in Full Tilt, but found a good bankroll management system: Cash out Mondays, Wednesdays, and Fridays. So, if her Full Tilt balance doesn't come out, it's only an inconvenience. Bankroll management is for winning players. Before you establish yourself as a winning player, you should have a budget, not a bankroll.